SEOUL, Feb. 5 (Korea Bizwire) — South Korea’s two major business lobbies breathed a collective sigh of relief Monday as Samsung Electronics Vice Chairman Lee Jae-yong walked out of prison after serving nearly a year over a bribery scandal that led to the ouster of former President Park Geun-hye. The Seoul High Court had sentenced [...]
SEOUL, Feb. 5 (Korea Bizwire) — An appellate court is set to hand down its verdict Monday on Samsung Electronics Vice Chairman Lee Jae-yong, who was found guilty by a lower court of offering kickbacks to former President Park Geun-hye, and her friend, in a scandal that led to Park’s ouster last year. The scion [...]
SEOUL, Jan. 3 (Korea Bizwire) — Samsung Electronics Vice Chairman Lee Jae-yong is expected to step down from the board of the Boao Forum by not extending his term, which ends in April, industry watchers said Wednesday. Lee has been behind bars since February amid allegations that he took part in a major political scandal [...]
SEOUL, Oct. 16 (Korea Bizwire) – Samsung Electronics CEO and Vice Chairman Kwon Oh Hyun’s decision to resign by March of next year has left Samsung Group Vice Chairman Lee Jae Yong as the clear successor to his father as the head of the Samsung empire. After the resignation of fellow Vice Chairman Choi Ji [...]
SEOUL, Sept. 19 (Korea Bizwire) — Samsung Electronics Co.’s reputation plunged in 2017 compared with the year before, industry data showed Tuesday, apparently due to the arrest of its de facto head coupled with the Galaxy Note 7 debacle. According to the U.S.-based Reputation Institute, Samsung’s ranking in terms of corporate social responsibility plunged 69 [...]
SEOUL, Sept. 6 (Korea Bizwire) – The mother and two sisters of Samsung Electronics Vice Chairman Lee Jae-yong have recently visited him at a detention center, legal sources said Wednesday. The Samsung heir was sentenced to five years in prison on Aug. 25 for giving 43 billion won (US$38 million) in kickbacks to ousted President [...]
SEOUL, Aug. 28 (Korea Bizwire) — Samsung Electronics Vice Chairman Lee Jae-yong filed for an appeal Monday, three days after a court sentenced him to five years in jail for bribery, embezzlement and other charges in a corruption case that led to the ouster of former President Park Geun-hye. His attorney, Kim Jong-hoon, submitted the [...]
SEOUL, Aug. 28 (Korea Bizwire) – Foreign stakeholders may expand their intervention in management decisions at Samsung Electronics Co. aftera Seoul court found its vice chairman de facto leader guilty of bribery, market watchers warned Sunday. Foreign investors who collectively hold more than 50 percent stake in the world’s largest smartphone manufacturer may demand the company’s board of directors be replaced as Vice Chairman Lee Jae-yong on Friday was sentenced to [...]
SEOUL, Aug. 25 (Korea Bizwire) – A lower court in Seoul sentenced Samsung Electronics Vice Chairman Lee Jae-yong to five years in prison Friday, finding him guilty of bribery, embezzlement and other charges in a massive corruption scandal that led to the ouster of former President Park Geun-hye. The Seoul Central District Court handed down [...]
SEOUL, Aug. 23 (Korea Bizwire) – The Seoul Central District Court decided Wednesday not to allow the upcoming sentencing hearing for Samsung Electronics Vice Chairman Lee Jae-yong to be televised live, saying the move could unfairly hurt the interests of defendants. The court also decided not to permit the taking of still photos during Friday’s [...]